TTOO - T2 Biosystems GAAP EPS of -$1.41 beats by $0.92 revenue of $5.48M beats by $0.08M
2023-03-13 16:07:26 ET
- T2 Biosystems press release ( NASDAQ: TTOO ): Q4 GAAP EPS of -$1.41 beats by $0.92 .
- Revenue of $5.48M (-21.5% Y/Y) beats by $0.08M .
- Achieved record full year 2022 sepsis-driven T2Dx ® Instrument placements, totaling 51 contracts, consisting of 27 from the U.S. and 24 from outside the U.S.
- Strengthened the balance sheet in February 2023 by completing a public offering generating $12.0 million of gross proceeds.
- Cash, equivalents, and restricted cash were $11.9 million as of December 31, 2022. In February 2023, we raised $12.0 million through a common stock and warrants sale.
- 2023 Outlook: The Company expects full year 2023 total sepsis and related product revenue of $11.0 million to $13.0 million, representing growth of 31% to 55%, compared to $8.4 million in 2022. Given the focus on product revenue, the Company is not providing guidance on research and contribution revenue.
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T2 Biosystems GAAP EPS of -$1.41 beats by $0.92, revenue of $5.48M beats by $0.08M